1. Field of the Invention
The present invention relates generally to a payment system for use in executing secure online commercial transactions, and more particularly, to an online transaction system wherein consumer identity remains anonymous to merchants and a central system throughout an entire transaction.
2. Description of Related Art
Online payment systems have long been known and widely used. Many, if not all of them, are exposed to phishing attacks and fraud in general. While online payment systems will continue to be required and widely used, improvements on the behavior and payment flow are desirable to help ensure fraud-free online shopping where all parties are protected including the merchant, the financial institution and ultimately the consumer.